Banco Bradesco (NYSE:BBD) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Banco Bradesco (NYSE:BBD) released its quarterly earnings results on Thursday. The bank reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01), FiscalAI reports. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $7.52 billion.

Banco Bradesco Stock Performance

Shares of NYSE BBD traded up $0.12 during mid-day trading on Friday, hitting $4.08. The company had a trading volume of 62,301,342 shares, compared to its average volume of 49,686,968. Banco Bradesco has a 12 month low of $2.98 and a 12 month high of $4.58. The stock has a market cap of $43.18 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.70 and a beta of 0.46. The firm’s 50 day simple moving average is $3.61 and its two-hundred day simple moving average is $3.60. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.0038 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, November 5th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0037. Banco Bradesco’s payout ratio is currently 47.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BBD. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. HSBC cut Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 price objective on the stock. in a research note on Thursday, October 8th. JPMorgan Chase & Co. raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 6th. Bradesco Corretora upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen upgraded Banco Bradesco to a “hold” rating in a report on Saturday, October 17th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4.05.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.